Canadian Researcher Profiles the Average Bitcoin Investor

The typical bitcoin investor values personal growth and is emotionally stable. This conclusion was reached by behavioral scientist and University of Toronto associate professor Stefano Di Domenico, according to Decrypt.

The study surveyed 500 clients of the Canadian platform Shakepay, with a questionnaire comprising over 350 questions. The research explored more than a dozen hypotheses; however, it has yet to undergo peer review and publication—Di Domenico has only presented some theses at the Canadian Bitcoin Conference 2024.

My colleagues and I are looking forward to finishing up our paper and sharing a fuller, more detailed set of findings.

— Stefano Di Domenico (@stefanoddmx) May 30, 2024

Prior to the conference, the researcher posted on LinkedIn, explaining that investors in the leading cryptocurrency are “often portrayed as financially illiterate ‘crypto bros’.”

“One tabloid even published an [article] with the headline ‘Bitcoin fans are psychopaths who don’t care about anyone’. Our data, based on a sample of Canadian retail investors, tells a very different story,” wrote Di Domenico.

In his view, the group of investors studied is “intellectually curious and emotionally stable.” They “value personal growth, relationships, community, and health over material possessions” and are financially literate.

Just in: first peer reviewed study on who Bitcoiners are

Findings: Bitcoiners
?tend to be intellectually curious and emotionally stable
?value personal growth, relationships, community over material possessions
?Scored significantly higher in financial literacy than the… pic.twitter.com/g8MIHeisIV

— Daniel Batten (@DSBatten) May 29, 2024

In August 2023, the exchange KuCoin profiled the Russian crypto investor, and ForkLog compared the data with reports from Japan and Germany.